I am desperately looking for help, I want to clean up my credit, I have a few chargeoffs, what are those? Is there a company that can loan me the money to pay that debt then me pay them back? I am currently paying a school loan, with no problems.
2006-09-11 09:08:08 · 16 answers · asked by Anonymous in Business & Finance ➔ Credit
I owe 7,000. To many its not much but its alot for me, who can give me a loan?
2006-09-11 09:09:49 · update #1
- Chargebacks are when you have had a credit card & you never paid the balance on it. The bank ended up reporting you to a collections agency. Go to annualcreditreport.com to see who it was. You can get a free credit report from the 3 big agencies every year.
2006-09-11 09:11:21 · answer #1 · answered by IMHO 6 · 0⤊ 0⤋
Take a deferrence on your school loans, and pay off the credit card debt as fast as possible. If you have a good history with your bank (checking acct, etc), it should not be a problem getting a personal loan from them. But only borrow what you can pay back quickly (in less than a year). After that time, your credit should start to build back up. Your credit rating is based on the amount of credit extended to you against what you have charged. Example, if you have an $8,000 line of credit and you've used up $7,500 of it, then you'd be considered a bad risk. Pay down those balances as much as possible.
2006-09-11 16:17:09 · answer #2 · answered by RockC 2 · 0⤊ 0⤋
I was in the same situation several years ago. I got a loan but then re spent! I had to in the end go to a credit counseling agency, who sort my debt out and stop interest charges. They take money once a month and spread it out to my creditors.
It is easier, no interest so you are paying it back quicker and at an amount you can afford. the down size is that during that time you cannot get any credit at all.
Don't go to a loan company as with your credit rating they will charge you up to 30% interest and all you will do is pay the interest off. They are a nightmare. try and sort it out without getting a loan or you will be in the same situation you are now.
Good luck.
2006-09-11 16:12:43 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Been there done that :-(
Be aware that if you have a bad credit score, you may have to pay a slightly higher interest rate. That is why you need to compare offers from several lenders to get the best rate for an online loan application for bad credit.
There are several different kinds of these loans available. One is an unsecured loan. This means you do not have to put up any of your property as collateral for the loan.
You can even apply for a personal loan guaranteed unsecured loan. These loans mean that you will get the loan as long as you meet minimum qualifications.
How and where can you apply for loan application for bad credit?
That is a good question. These loans are available through a variety of bank and loan company web sites.
My choice was PNC
2006-09-12 20:19:08 · answer #4 · answered by izdaleka 2 · 0⤊ 0⤋
Charge offs are debts that went to a collection agency for collection. You obtain your credit report. Get help with understanding it. See what charge off are still outstanding contact the agency and pay them off ASAP.
Some agencies will even grant you settlements and letters stating that they well remove the negative info from your credit report. Very important to get these letters because even if you paid the debt in full, or settle in full, the negative reporting will remain there for up to 2yrs.
There are agencies out there that will loan you the funds to payoff and consolidate your debt but at a ridiculously high rate. And you will be in debt with them forever. You might want to ask a family member to help you out with a loan first to pay in full the debt, or get a 2nd or part-time job.
If you have to major credit cards and one department store card and keep the balance less than the credit limit, then you should be able to improve your credit rating that way.
2006-09-11 16:28:56 · answer #5 · answered by Anonymous · 0⤊ 0⤋
I found a solution that worked for me. It might work for you too.
I had some pretty serious credit problems…some were not my fault and, I guess, a few were. I listened to the so-called “experts” who said they could fix my credit report and I spent money I didn’t have. I didn’t have any luck trying to get my credit report fixed.
I remember paying for the services that these Credit Repair Companies had to offer. The companies told me that they could have negative items removed from my credit reports without any problem, Yeah, right. This did not happen at all. Most of the companies wanted to charge me a set up fee anywhere from $39 to $299 for their services. Not only did they charge this set up fee, most of them also wanted to charge me from $29 to $49 monthly while they “attempted” to repair my credit report. These companies offered no guarantee that their services would actually work and, believe me, they didn’t.
I was about ready to give up when I found a lady who had been through the same thing and who had found a solution. She figured out how get all the negative items removed from her credit report within 3 months without paying anyone a penny. She developed a fast, easy, step-by-step process that she guarantees will work for everyone. She sells the complete plan with all the help and instructions for $47.00.
I know what you are thinking…”another $47 down the drain,” and that’s kind of what I was thinking too. But, I figured that since she offers a 100% money back guarantee I had nothing to lose.
Well, I tried it and it was amazing. I got all of the negative items removed from my credit report and my credit score went from 553 to 715 in only 3 months. All I can say is that it worked great for me. I suggest you check it out. You can always get your money back if it doesn’t work for you. If it works even half as well for you as it did for me you will never even think about asking for a refund.
The information is on this site: http://clean-credit-secrets.com/
2006-09-12 13:00:56 · answer #6 · answered by Anonymous · 0⤊ 0⤋
easy what you do is this. You fill out an application for a new credit card. and attach it with a letter with a staple this will ensure that it doesn't go through the computer and is hand read. on the letter you say that you have been doing this but have seen the error of your ways and have made a change. they will write to you and give you the credit loan. try a 0% credit card that should do part of the trouble and the rest you can apply for another card try two at a time.
2006-09-11 16:09:28 · answer #7 · answered by sarell 6 · 0⤊ 2⤋
charge off's are depts that you never completely paid. The company took a loss on that dept. You may still be able to get a loan but you will pay a higher interest rate.
2006-09-11 16:11:17 · answer #8 · answered by majesticwife 3 · 0⤊ 0⤋
Clean credit then go for a loan...and learn money management
2006-09-11 17:03:25 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Your solution is counterproductive. You say you want to improve your credit by borrowing more money.
I am not trying to be sarcastic or cause you additional hardship. Please understand your solution is exactly like saying: "I want to fill in a hole in the ground with dirt I'll get from digging another hole". You work very hard and at the end is nothing but another hole.
Slow down, be patience, pay cash, don't buy what you want and fill in you hole.
2006-09-11 17:34:47 · answer #10 · answered by BOB W 3 · 0⤊ 0⤋